Friday 29 Mar 2024
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KUALA LUMPUR (Aug 28): Credit Suisse analyst Joanna Cheah downgraded the recommendation on Padini Holdings Bhd to neutral from outperform.

* Price target (PT) lowered to RM5.90 from RM5.98. Padini average PT is RM5.90.

* Padini had 5 buys, 6 holds, 1 sell previously: Bloomberg data

* Analysts raised their consensus one-year target price for the stock by 12 percent in the past three months. Forecasts range from RM4.77 to RM8.05.

Performance Metrics

* Investors who followed Cheah's recommendation would have received a 32 percent return in the past year, compared with the 46 percent return on the shares.

* In the past two years, Credit Suisse has rated Padini outperform twice and neutral once.

* The shares rose an average 45 percent in the periods rated outperform and rose 8.1 percent in the period rated neutral.

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